Litigation Funding in Cyprus
Litigation funding, is a mechanism by which a third-party provides financial support to a plaintiff or a law firm for a legal dispute in exchange for a portion of the settlement or judgment award.
Why is the Cyprus Share Pledge an Excellent Type of Security?
Cyprus companies are frequently parties to financing transactions either as borrowers or guarantors. For this reason, it is often the case that the shares in the share capital of such Cyprus companies are being placed as security to secure the loan obligations.
The Importance of the SEC v Ripple Case
In late 2020, the US Securities and Exchange Commission (SEC) charged Ripple, a San Francisco-based company that offers a cross-border payment infrastructure, and two of its executives, with conducting an unregistered securities offering of $1.3bn by selling their cryptocurrency XRP.
EU agrees 10th package of sanctions against Russia
On the 25th February 2023 the European Council adopted the 10th package of sanctions against Russia. The package contains new listings plus trade and financial sanctions, including further export bans worth more than €11 billion, depriving the Russian economy of critical tech and industrial goods. It also steps up enforcement and anti-circumvention measures, including a new reporting obligation on Russian Central Bank assets.
Can a “Reverse Merger” Be Made Under Cyprus Law?
The term “reverse merger” refers to a reorganisation whereby a subsidiary company absorbs the assets and liabilities of its parent holding company.
Update on Public Access to Ultimate Beneficial Owners (UBOs) Register
In light of the recent Judgement of the Court of Justice of the European Union (CJEE) in joined cases C-37/20 and C-601/20, of November 22, 2022, access to the Register of Beneficial Owners for the general public was suspended as of the 23rd of November 2022.
Strike Off of a Cyprus Company
Under Cap. 113, the Registrar of Companies may remove from the Register any company which appears not to be doing business and is not operation.
Merger or Liquidation? Practical comparison under Cyprus Law
We are often approached by clients who wish to simplify their corporate structures, with the question whether it is best to opt for a merger between their group companies, or the liquidation of companies which no longer they wish to keep alive.
Οι Αντιπροσωπευτικές Αγωγές και η προστασία συλλογικών συμφερόντων των καταναλωτών
Στο παρόν στάδιο δεν έχει θεσπιστεί κυπριακή νομοθεσία που να επιτρέπει την προώθηση αγωγών αποζημίωσης προς όφελος καταναλωτών στα πλαίσια της νέας οδηγίας (ΕΕ) 2020/1828.
Sale of Immovable Property
The Parliament has passed a new law levying on a 0.4% tax on all sales of immovable properties. The imposition of this levy is intended to serve humanitarian purposes by supporting Greek -Cypriot refugees.